30th January 2023
Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, today announced the acquisition of MVP Advisory Group, LLC (“MVP”), the consulting business specialising in advisory & transformation projects for the property & casualty and life & health insurance markets.
With headquarters in Chicago, Illinois, US, MVP’s insurance & technology specialists manage projects in all areas of insurance including underwriting, policy administration, claims management, client experience, finance, compliance, data warehousing, data, analytics, human resources, and information technology. Creating partnerships which complement and leverage each client’s existing capabilities, MVP provides deep expertise, including transformational roadmaps, programme management, quality assurance, data management, and analytic and digital transformation and engagement.
MVP will join Davies’ global Consulting division led by Consulting & Technology CEO, Mark Grocott. Managing Partners of MVP Russ Bostick & Donn Vucovich will continue to lead the business and all MVP employees will continue in their roles within Davies whilst continuing to work closely with MVP’s existing contractor network of subject matter experts.
In recent years, Davies has diversified and deepened its consulting & technology capability to provide customer experience, resourcing and learning solutions, as well as data & speech analytics, robotic process automation, legacy platform modernisation and product development for its 1,200+ insurance and highly regulated clients. In 2021 the firm expanded its international technology transformation & digitalisation, international regulatory compliance, and risk management capability for its insurance, banking, and wider highly regulated clients through the acquisition of Sionic.
Davies has established and expanded its operations in the US through a combination of strong organic and M&A growth in recent years, with the firm now offering a full range of TPA and loss adjusting solutions across all 50 states, as well as captive management, auditing, actuarial, subrogation, excess claims management and risk & inspection solutions.
Globally, Davies’ 6,500+ colleagues operate across Bermuda, Canada, India, Ireland, Spain, Switzerland, the UK, and US. The business delivers professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation, customer experience, human capital, digital transformation & change management.
Dan Saulter, Group CEO, Davies commented: “I’m delighted to welcome Russ, Donn and the entire MVP team to Davies. Bringing a wealth of knowledge & talent in delivering advisory services & transformation projects exclusively for the insurance market, the business is a great addition to our growing consulting platform.
“The insurance landscape continues to evolve quickly. With new entrants to the market disrupting traditional operating models, it’s become essential for insurers who want to remain relevant and compete to invest in digital transformation. MVP’s expertise & commitment to the insurance market, coupled with its strong partnership approach has helped many clients successfully navigate this evolution by leveraging the power of digital technology, and I’m excited to now be able to offer this talent to our growing client base around the world.”
Russ Bostick, Managing Partner, MVP added: “I’m very pleased that MVP is becoming part of Davies which has a shared focus on innovation and digital transformation to guide insurers through every step of any complex transformation project. I look forward to working with Dan, Mark and the wider Davies team to develop and strengthen our highly specialised insurance operations & technology consulting services for our clients.”
Sherman & Company advised MVP on the transaction
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